2010.10.1122:24:00UTC+00Philippines Overall Exports in the January-August Period Accelerates to 36.6 Pct Y/y - Stats Office

News:

• Philippines' statistics office released data on Tuesday that showed, total exports in August climbed by 36.6 pct y/y, taking the valuation up to $4.74 bln from $3.47 bln a year ago, compared to a 35.9 pct y/y rise in July.
• Philippines electronics exports in August were up 45.3 pct y/y at $2.99 bln, down from a 49.4 pct y/y growth in July, while overall exports by Philippines in the January-August period of 2010 accelerated at 36.6 pct y/y.
• Philippines' government forecast exports to advance 15 pct in 2010, and imports to gain 20 pct, while the electronics industry group estimates exports to surge 25 to 30 pct despite signs of faltering global growth.
• The Philippine government sees the economy growing at a faster rate than the official target of 5 pct to 6 pct in 2010, which is expected to race up to 7 pct to 8 pct in 2011, partlyon increased demand for the electronic and semiconductor exports.